$270m Contract for IKCO

Iran Khodro (IKCO) CEO, Hashem Yekehzare, has announced a $270-million contract and MOU between five Iranian organizations and five major global corporations in car design and development which will lead to introducing 23 cars in 10 years.

“In this consortium, Iranian auto parts makers will be present in the process of design and development and based on this contract, 70% auto parts localization will be achieved over time,” said IKCO CEO during Peugeot 2008 and Dena+ launch ceremony held in SAPCO attended by Iran’s President Hassan Rouhani.

According to him, within two and half years the first outcome of this contract will hit the market, while production of hybrid and electric cars in cooperation with Sharif and Amirkabir universities with exporting half of the products is put on the agenda.

“Fulfilling this contract will lead in fully transferring car design and development technology and know-how into the country,” claimed IKCO CEO and added, “800 auto parts makers all around the country work hard to support the daily production of 2500 cars and 800 after sales service centers back the manufactured cars in Iran.”

Peugeot 2008 is the first outcome of the propitious event after the JCPOA. The two companies of IKCO and Peugeot established a 50-50 JV named – IKAP – the very first product of which i.e. Peugeot 2008 is put into mass-production now. IKCO also started the mass-production of Dena+ at the same time.

He also cited the joint venture between IKCO and Mercedes Benz.

(Source: Iran Khodro)

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